RIM: Massive Layoffs Ahead?

Mon, 05/28/2012 - 22:52 EDT - Forbes.com - Top Stories

Is Research in Motion about to announce massive job cuts? The Globe and Mail over the weekend reported that the company will cut at least 2,000 of its current staff of 16,500, which is down from a previous peak of 20,000. Reuters followed up with a report that the actual job cuts could be as ...

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BHP Billiton Limited (ADR) (NYSE:BHP) has announced plans to cut back on its shale drilling program amid falling oil price. Crude oil price since June 2014 has fallen more than 50%. The considerable decline in oil price comes amid a supply glut initiated by the US shale boom. The US is producing more than nine million barrels of oil per day and has broken its 30-year record.

The Globe and Mail is asking staff to take voluntary buyouts, with declining print circulation prompting the need for cost cutting.
Globe CEO Phillip Crawley informed employees of the offers at an all-staff town hall Thursday afternoon — a later town hall will be held for editorial employees only. Sources at the Globe who participated said Crawley told staff the paper is aiming to find approximately 40 employees across the company who will agree to voluntary severance packages.
Crawley did not reply immediately to a request for comment.

ByKurt Windibank:A few thousand years ago the Mayans predicted that the "End of Times" would fall on Dec 21,2012. What exactly did they foresee that would trigger such an event? Was it a meteor? Was it a massive flood? Was it solar flares? Maybe , just maybe, they caught a glimpse of RIM's (RIMM) 3rd Quarter results!

The markets are higher ahead of the long Memorial Day weekend, and as expected, both volume and the news flow are light. The Dow up up 38 points (0.2%), the S&P is up 3 points (0.2%), and the Nasdaq is up 7 points (0.2%).

Submitted by Charles Kennedy of OilPrice Crude oil just capped off a third straight week of declines, as WTI nears the $40 per barrel threshold. Goldman Sachs is once again raising the possibility of oil dipping into the $20s per barrel.

The oilsands sector is in danger of losing its reputation as a job-creating machine.
A new industry report shows the sector may require 84 per cent fewer construction workers in 2020 compared to 2015 as project cancellations pile up amid a crippling oil-price environment.
“Overall workforce requirements for the oil and gas industry has been severely impacted by a reduction in investment,” said Carol Howes, vice-president of communications at Petroleum Labour Market Information, part of the industry-funded Enform based in Calgary.

By Stock Croc:Canada's own Research In Motion (RIMM) seems to be facing the same challenge again and again. Its big gunner in the wireless phone industry is the ubiquitous (perhaps only in name, now) Blackberry smartphone line. The struggle in investors' mind is whether the company can rebound as Blackberry's stake in phone sales continues to erode.

Zacks.com submits:
Research In Motion Ltd. (RIMM) is on the verge of declaring its quarterly financial results that may turn out to be very critical for its future operations. On September 16, after the closing bell, the company will announce its second quarter results of fiscal 2011.